Bolivia needs “flexibility” in the management of its gold holdings in order to maintain “the normal functioning of international payments in the country”, according to the resolution posted on its website.
The bank didn’t say it if plans to sell some of its holdings in the short term, and didn’t immediately reply to a written request for comment.
The bank reported 22.37 tons of gold holdings at the end of August, with a value of $1.8 billion.
Bolivia is undergoing an economic crisis as a shortage of foreign currency causes scarcity of fuel and other key goods as well as accelerating inflation. The crisis is being aggravated by clashes between supporters of President Luis Arce and former President Evo Morales.
(By Sergio Mendoza)
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Publish date : 2024-11-07 23:47:00
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